Debtwire Restructuring Forum Germany 2023
Connect with key players in the German restructuring community!
Sofitel Frankfurt Opera, Frankfurt
19
Apr
Panel discussion - German restructuring outlook in 2023: Challenges for corporates and opportunities for investors
Analysing the state of the restructuring market in Germany - as the last quarter of 2022 and 2023 foreshadow a bleaker outlook from both a macro and an interest-rate perspective. Panellists will discuss how next year is likely to bring a significant uptick in restructuring activity for German credits, with rising interest rates and a volatile economic outlook.
- What went well in 2022?
- How to deal with limitations in the current economic context
- Comparison with other jurisdictions (specifically UK and The Netherlands) and what can be improved? Is an equivalent of CBA needed in Germany?
- Dealing with unfavourable legacy contracts and leases that have become unprofitable
- Liability management strategies
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SpeakersOliver Kehren Managing Director Morgan Stanley
Alexander Hug Partner PwC
Holger Rabelt Managing Director Commerzbank
Frank Grell Partner Latham & Watkins
Herbert Woisetschlaeger Head of Recovery Management Unicredit
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Oliver Kehren is a Managing Director at Morgan Stanley in London and Head of EMEA SSG. Activities include acquisitions/trading of distressed debt as part of portfolio and single name transactions and the restructuring/-financing of distressed corporate and sovereign situations. Oliver has extensive experience in export-/project-financing, corporate finance and financial restructurings. He is Co-Chairman of the board of Gesellschaft für Restrukturierung TMA Deutschland e.V., an author of several publications on financial restructurings and a guest lecturer at several Universities.
Alexander joined PwC in 2008 and is a Director in the German Business Recovery Services team. He focuses on complex financial restructuring and refinancing situations. Alexander has ten years of restructuring experience and was involved in leading numerous restructuring projects with a dedicated focus on financial restructuring and leveraged finance, preparation of business reviews, and validation and implementation of restructuring concepts. His expertise includes complex refinancing projects and financial restructuring of listed companies.
Frank Grell helps clients navigate distressed situations related to restructuring or insolvency. He chairs the German Restructuring & Special Situations Practice and served as Local Department Chair of the German Finance Department. Mr. Grell has earned a strong reputation from clients and leading publications for his empathetic approach and ability to craft pragmatic and commercial solutions in high-pressure or crisis situations.
Mr. Grell advises:
- Companies, management, and shareholders in a financial or operational crisis
- Creditors in all phases of financial restructurings, including debt-equity swaps, share pledge enforcements, and insolvency plan proceedings
- Investors on the acquisition of distressed companies and on restructuring, rescue financing, or refinancing transactions, including debt-equity swaps
- Insolvency administrators on M&A, restructurings, or disputes
- Complementing his transactional work, he also represents parties in claw-back and liability cases
Mr. Grell is a board member of TMA Germany e.V. and of Norddeutsches Insolvenzforum e.V. (Insolvency Forum of Northern Germany).
He regularly speaks and writes about insolvency and restructuring matters.